GB Group PLC
02 June 2004
GB GROUP PLC
('GB Group', 'the Group' or 'the Company')
GB Group Announces Agreement with TD Waterhouse UK to Provide Electronic
Identity Verification.
GB Group today announces that TD Waterhouse, - the UK's second largest
execution-only broker - has become a customer of the URU(TM) anti-fraud and money
laundering service which GB Group has jointly developed with BT.
URU will be used by TD Waterhouse in its account opening process to help it
comply with Money Laundering Rules and improve operational effectiveness. As
announced by GB Group in its recent preliminary results, the URU(TM) service has
already been adopted by other customers in the Finance and Telecom sectors.
Commenting, GB Group's Chief Executive, Richard Law said: 'The news that TD
Waterhouse is to become a customer of URU(TM) comes on top of other recent
successes in the Finance and Telecoms sectors and is an important endorsement of
URU(TM). This provides ourselves and BT with a bridgehead into these important
sectors from which to expand. Although these contracts are not currently
material in relation to the overall turnover of the Group, they are a strong
indication of URU's effectiveness in tackling money laundering and fraud and of
its potential to generate future revenues for the Group.'
-Ends-
For further information, please contact:
GB Group plc
Richard Law, Chief Executive 01244 657333
Weber Shandwick Square Mile 020 7067 0700
Richard Hews
Rachel Taylor
Website www.gb.co.uk
Notes to editors
About URU(TM)
BT and GB Group have jointly developed the service, URU(TM), to help companies
protect themselves from the growing problem of identity theft and fraud, which
is estimated by the Cabinet Office to cost the UK economy over £1.3 billion per
annum. URU(TM) enables companies subscribing to the service to make an instant
decision whether to accept the identity claimed by any given individual.
URU(TM) works by asking a series of questions and checking the individual's answers
against national reference databases such as mortality, electricity, telephone
and financial industry data sets and, passport and driving licence details. No
personal data is disclosed by the reference databases, simply a 'match' or 'no
match' report is returned in seconds. As a result, URU(TM) is compliant with the
Data Protection Act. Furthermore, the service provides an independent audit
trail demonstrating that the necessary checks have taken place, thereby helping
companies comply with legislation, including the Money Laundering Regulations
2003.
The service also makes it easier for individuals to prove their identity and the
addition of data from CallCredit enables users of URU(TM) to incorporate credit
reference data.
About GB Group plc
GB Group plc provides a range of products and services to enable organisations
to capitalise on one of their greatest assets - customer data. The Company has
expertise across a range of sectors and is able to transform customer data into
valuable information, enabling clients to make better, more informed decisions.
The development of innovative software and services, through to the provision of
the UK's most comprehensive consumer business databases - The National Register
(R) and the National Authentication Register - positions GB Group as a widely
acknowledged industry leader in its specialist markets.
GB Group plc has three business areas:
• The DataIntegrity business helps companies capture and maintain accurate
customer contact data, an essential foundation for any profitable customer
relationship.
• The DataSolutions business empowers companies to consolidate and analyse
customer data from various sources, enabling them to make better, more
informed decisions.
• The DataAuthentication business helps businesses validate personal
identity information and provides anti-fraud solutions to fight crime.
Established since 1989, GB's core competencies combined with industry sector
knowledge have enabled the Company to deliver significant value to organisations
such as npower, WH Smith and Coral Racing, in helping them derive maximum value
from their customer data and sustain real advantage over their competition.
GB Group is supported by its key relationships with major organisations with
whom it partners on major initiatives (an example being British Telecom),
together with a team of highly talented and motivated staff successfully
delivering business solutions.
GB Group plc is listed on the London Stock Exchange (www.gb.co.uk).
About TD Waterhouse
TD Waterhouse is one of the world's largest discount brokers, providing
investors with a broad range of brokerage, mutual fund, banking and other
consumer financial products.
TD Waterhouse UK provides investors with execution-only share dealing and
information services through its website at www.tdwaterhouse.co.uk and by phone
on 0845 607 6001.
This information is provided by RNS
The company news service from the London Stock Exchange
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